Since the beginning of this year, Shandong has achieved substantial growth in industrial production, investment and export, with the leading indicators improving continuously. Boosted by its key industries, Shandong's industrial economy has shown an overall momentum of steady and high-quality growth.

High-tech manufacturing is a highlight in the high-quality development of Shandong's industrial economy. In the first half of 2022, Shandong's high-tech manufacturing sector grew by 15.5%, with the output of new energy vehicles, industrial robots and integrated circuits up 261.0%, 33.1% and 18.2% year on year respectively. With digitalization, innovation and intelligent manufacturing as the core elements for enhancing the driving forces and competitive strength of industrial transformation, Shandong has consolidated the foundation for and taken firm steps in the high-quality development of its industrial economy.

Development resilience is inseparable from the stability and competitiveness of industry chains and supply chains, which is vital to the restorative growth of the industrial economy. Key enterprises in chains have led upstream and downstream enterprises in precisely building, extending and strengthening chains, to generate benefits from industrial agglomeration and overcome the negative impact of COVID-19.

Targeted policies for high-quality development can effectively address thorny problems arising in corporate development. In regard to the industrial economy, 19 departments, including the Shandong Development and Reform Commission and the Department of Industry and Information Technology of Shandong Province, jointly released the Action Program for Invigorating the Industrial Economy, Promoting Steady Industrial Growth and Accelerating High-quality Development in late March, including 28 measures in seven aspects such as promoting the steady growth of industrial investment and ensuring the orderly operation of the industrial economy. The program has boosted the sound development of Shandong's industrial economy.